Keppel Wins 20 Year Centralised Cooling Systems Contract Tengah Bto Projects
Keppel Corporation’s infrastructure division has recently been awarded a contract for the provision of chilled water supply by the Housing & Development Board (HDB). This 20-year contract will involve Keppel designing, constructing, owning, and operating centralised cooling systems (CCS) at three upcoming build-to-order (BTO) projects located in Tengah. The CCS will serve approximately 3,500 households across the three projects – Brickland Weave, Plantation Edge I & II, and Plantation Verge.
The Kranji Expressway (KJE) is an essential route that connects the northern regions of Singapore with the bustling Jurong Industrial Estate. This expressway serves as a vital link for both commuters and the transportation of goods. It has significantly improved the efficiency of travel for residents living in the northern areas, as well as businesses in the Jurong Industrial Estate. Novo Place EC, a new residential development, is conveniently located near the KJE, providing residents with easy access to this important thoroughfare. This location makes Novo Place EC an ideal choice for individuals who need to commute to work in the Jurong area, or for businesses that require efficient transportation of goods. The KJE, along with Novo Place EC, has greatly enhanced the connectivity and accessibility of the northern parts of Singapore.
In a statement released on September 30, Keppel has expressed its commitment to work closely with HDB in delivering the CCS to each home. The system will operate by piping chilled water from centralised chillers installed on the rooftops of selected HDB blocks, effectively cooling down the flats. Keppel also notes that it will incorporate innovative engineering and design features and use high-quality materials to ensure the CCS performs at industry-standard levels.
Once completed, the CCS at these three BTO projects will be connected to Keppel’s Operations Nerve Centre (ONC) for remote control and real-time performance monitoring. “We are delighted to welcome Keppel on board as a CCS service provider for future BTO projects. With more market players participating in the provision of CCS services, we hope to enhance the industry’s capabilities and deepen the CCS ecosystem, thereby creating a highly liveable and sustainable environment for HDB residents,” says Tan Meng Dui, CEO of HDB.
Cindy Lim, CEO of Keppel’s infrastructure division, adds, “Keppel is pleased to be selected as the provider of cooling services for these three latest precincts in Tengah. With over two decades of experience in serving the cooling needs of various facilities, including business parks, commercial offices, hotels, malls, and mission-critical facilities like wafer fabs and data centres, Keppel is well-equipped to work closely with HDB to offer high-quality and modern cooling solutions for homeowners.”
Keppel currently has a combined cooling portfolio of over 260,000 refrigeration tonnes in the region, including assets under development. The contract is not expected to have a significant impact on Keppel’s earnings per share (EPS) and net tangible asset (NTA) per share for the current financial year.
As of 9.29am, Keppel’s shares are trading 1 cent higher or 0.15% up at $6.63.